Exhibit 99.1

 

Clarus Reports Record Fourth Quarter and Full Year 2018 Results, Introduces Strong 2019 Outlook

 

Fourth Quarter Sales up 9% to $57.3 Million With Gross Margin up 300 Basis Points to 35.6% –

Expects Full Year 2019 Sales to Grow Approximately 8% to $230 Million and Adjusted EBITDA to Increase Approximately 20% to $25 Million –

 

SALT LAKE CITY, Utah – March 4, 2019

– Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a company focused on the outdoor and consumer industries, seeking opportunities to acquire and grow businesses that can generate attractive shareholder returns, reported financial results for the fourth quarter and full year ended December 31, 2018, and provided its financial outlook for 2019.

 

Fourth Quarter 2018 Financial Highlights vs. Same Year-Ago Quarter

 

·Sales increased 9% to $57.3 million.
·Gross margin increased 300 basis points to 35.6%.
·Net income was $3.5 million or $0.12 per share, compared to $6.0 million or $0.20 per share. The fourth quarter of 2017 included an income tax benefit of $6.1 million related to the implementation of the Tax Cuts and Jobs Act.
·Adjusted net income before non-cash items increased 27% to $5.9 million or $0.19 per share, compared to $4.6 million or $0.15 per share.
·Adjusted EBITDA increased 30% to $6.6 million and as a percentage of sales, adjusted EBITDA increased 190 basis points to 11.6%.
·Repurchased 101,833 shares of its common stock for approximately $1.0 million ($9.60 per share), bringing the total amount purchased during 2018 to 519,070 shares or $4.3 million ($8.31 per share). The Company maintains a $30 million share repurchase program, which still has approximately $13.5 million available.

 

Full Year 2018 Financial Highlights vs. 2017

 

·Sales increased 24% to $212.1 million.
·Gross margin increased 340 basis points to 34.9%.
·Net income was $7.3 million or $0.24 per share, compared to $(0.7) million or $(0.02) per share. Net loss in 2017 included the aforementioned income tax benefit of $6.1 million.
·Adjusted net income before non-cash items increased significantly to $19.3 million or $0.64 per share, compared to $4.7 million or $0.16 per share.
·Adjusted EBITDA increased significantly to $20.8 million, compared to $6.1 million, and as a percentage of sales, adjusted EBITDA increased 630 basis points to 9.8%.
·Free cash flow, defined as net cash provided by operating activities less capital expenditures, was $8.0 million compared to $(11.7) million.

 


The following information was filed by Clarus Corp (CLAR) on Monday, March 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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